One fairly common complain among gamblers is they are allowed to make a deposit at casinos and lose their money without any issue, but if they happen to win and they want to make a withdrawal then they are hit with a KYC request almost immediately, Tonybet a fiat Estonian casino was fined more than 400,000 pounds for this practice and it seems the regulators are now interested in making reforms to the laws and force casinos to also make checks on those gamblers which have lost a lot of money.
If those new regulations are passed they will affect not only fiat casinos but cryptocurrency casinos will have to eventually follow them as well, do you agree with this idea? Would you like to see casinos to be fined more often for the practice of only asking for personal information from winning gamblers or do you think this will have a harmful effect on their finances?
Source:
https://www.theguardian.com/society/2023/jan/18/tonybet-fined-regulator-online-betting-id-checks-termsI support and agree with the move and idea, if players win a big amount and players lose a big amount, they are on the same boat and they spent big money so its just right in name of transparency and compliance that they ask KYC if they have it in their terms, so many casinos are just asking KYC when you win or when you lose, it should be on the money they wagered.
But the big question is can they fully implement it can they apply it to all casinos although the idea is good, implementation is another thing unless the license issuer stated it that way.
I also support the fine on the Estonian casino or gambling company because this is a double standard. The same requirement used to deposit funds should also be what is needed for withdrawals. It seems the government is getting so. much complaints as regards this bad practice and they feel it is necessary to take action.
But it is also important for gamblers to read the Tos of these gambling firms because it might be evidence for or against the person. This is because some of these firms have different rules for deposit and withdrawal and these regulations are sometimes hidden in the terms of service. You can gladly refer to the rules of the casino company if you feel they are going against their own rules.